Qatar and Dubai notes among World Banknote Auctions highlights
- Published: May 21, 2022, 8 AM
Two bank notes issued by the Qatar and Dubai Currency Board in 1966 and seldom offered for sale are among the highlights in the 556-lot auction of world paper money to be held live by World Banknote Auctions of Sacramento, California, on May 26.
Two weeks prior to the sale there was already of bid of $21,000 without the 15% buyer’s fee on an undated Paper Money Guaranty Extremely Fine 40 25-riyal note that is offered with an estimate of $30,000 to $40,000.
This note and its companion 50-riyal note offered as the next lot are the result of a currency union between Qatar and Dubai. They are among the last notes issued in the Persian Gulf States before the establishment of the United Arab Emirates in 1971 and the subsequent issue of its first bank notes in 1973. Also in the series are 1-, 5-, 10-, and 100-riyal notes. All were printed by the British firm of Bradbury & Wilkinson and have the same design, but the colors are different and the sizes increase with each denomination.
The bright blue 25-riyal note is the key note in the series, with the fewest issued among all the denominations. The sales catalog states that it is possible just 1,565 were outstanding in October 1997, with most apparently lost or destroyed.
The scarce red 50-riyal note in the auction is in PMG Choice Very Fine 35 condition and, with a bid of $13,000 already in the book, is certain to go past its low estimate of $15,000.
The full auction catalog and online bidding is at http://www.worldbanknoteauctions.com.
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